A few nations stand out in the hard inflation fight
As if to prove the adage that misery loves company, President Carter began his economic message two weeks ago by noting that virulent inflation had become "a worldwide problem." Indeed, inflation now appears to be an entrenched global phenomenon. No nation is escaping its ravages; no consumer goes unscathed. The Paris-based Organization for Economic Cooperation and Development predicts an average inflation rate of 12½% for industrialized nations in 1980, marking the first time that its annual forecast has ranged into double digits.
Like the bubonic plague that swept through medieval Europe, global inflation...
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